LOT announces redundancies under cost-cutting plan

National carrier LOT Polish airlines yesterday announced plans to lay off "several hundred" workers, as part of a cost-cutting program that is expected to save around 20% of its expenditure. Explaining the need for the redundancies, which are likely to be implemented at the beginning of next year, LOT spokesman Leszek Chorzewski said, "We have large over-employment, and as a result of the dismissals we would save a significant amount." Chorzewski went on to say that the plan would involve some 300 early retirements, and an additional "several hundred" other employees. The announcement comes in the wake of a recent decision by the Swissair Group, owner of a 37.6% stake in LOT, to cut its workforce by 1,250. However, according to Chorzewski, the LOT dismissals have nothing to do with the Swissair plan. Currently LOT employs 4,200 people. Last year the airline carried 2.8 million passengers, and made pre-tax profits of zl.49.7 million. (Puls Biznesu, p. 3; Reuters) M.T.